MEGAWIDE Construction Corp. is keenly studying prospects in the construction, land port, and real estate sectors, particularly the government’s Pambansang Pabahay Para sa Pilipino (4PH) program, as a means to increase order book.
Under 4PH, the government will provide affordable housing, particularly for government employees, such as teachers, policemen and local government unit employees. Megawide will serve as the service provider.
Megawide chairman Edgar Saavedra said Megawide has been approached by the government for the latter program.
“We think that this project can be viable,” he said in a statement. “We will enter or participate in this, and other projects because we see the the impact it can generate to the company by giving a high order book to the construction, and our precast production,” he added.
Saavedra said the company expect its order book to hit an all-time high at almost P50 billion by the end of the year, from its current backlog of P37.7 billion.
He said the company’s construction business is expecting P20 billion worth of projects to offset the P12 billion order book that is set to be recognized as revenue for the rest of the year.
Last July, Megawide broke ground for the Caticlan Airport Terminal, which it hopes to serve as springboard for other transport infrastructure projects in the future.
Saavedra said the company’s projects are deliberately tied with the major infrastructure programs of the national government, a strategy which has pushed the share price of the company by 32.5 percent to P3.14 each from P2.37 on September 16.
Saavedra projected that Megawide is on track to outpace its 2024 net income, especially with its property arm, PH1 Worldm Developers Inc, gaining momentum.
